📢 We are thrilled to be releasing The Annual Law Firm Finance Report! We surveyed 800 legal finance leaders to get a view on how law firms can grow profits in 2024 and beyond. Here's a sneak peek at what they said!. Access all the insights ➡ #LegalTech

🎉 There's officially 3 months to go until the BigHand Conference! Join us on Wednesday 26th June! Register your place: Learn about legal market trends & hear how your peers are using BigHand technology. #BigHandC24 #MakeBigHappen

📅 Block out your calendar because your summer just got more exciting – the BigHand Conference will be taking place 26th June! 📅. Join finance & operations leaders to discover cutting-edge strategies tailored to the legal sector. 👉 Register your place:

Find out how you can drive profit by having better visibility of your support processes. #LegalTech #WorkflowManagement

2024 presents an opportunity for firms to get profits back on track. To set you up for success this year, we've put together 12 blogs on how law firms can improve profitability. 👉 Read the blogs now: #LegalTech #LawFirms #LegalInsights

55% of law firms remain committed to the use of billable hours as the primary lawyer KPI. To support profitable growth, firms need to understand profitability factors in more granular detail. Learn more in BigHand's latest report: #LegalFinance #LawFirms

🔎 BigHand surveyed 825 law firm leaders on challenges around retaining clients, profit and talent, and how law firms are responding. ⬇️ See some of the key data findings below ⬇️ . Read the market insights: #LegalInsights

56% of law firms have DEI specialists, but just 15% have resource managers supporting the whole firm. A more consistent approach is key to ensuring work is equitably resourced throughout the whole firm. Learn more: #DEI

📊 One third of law firms have little visibility over the type of work being allocated and over half lack information about associate capacity. Learn more in BigHand's latest research: #LegalResourcing #LawFirms

87% say clients are more business savvy, and 61% have decreased prices. While price decreases maintain client relationships, this can put pressure on profits if efficiency gains aren’t achieved. Learn more: #LegalTech

Three quarters of firms confirm a drop in client demand, as well as increased demands for work to be completed by the most cost-effective resource. 📖 Learn how tech can help meet demands: #LegalTech

While 43% of firms have increased focus on lawyer development, 62% lack vital information about lawyer training & development. How can firms achieve a development focus without the right data?. Learn more: #CareerDevelopment

Just 21% of law firms cite DEI as a top 3 priority and 85% of firms have received greater pressure to resource matters with diversity in mind. Learn more in BigHand's latest research from 825 law firm leaders 👉 #DEI

49% of law firms have seen lateral hiring increases, while 83% are still manually delegating tasks. As lateral hiring continues to cause disruption, firms must ensure effective work allocation. Read more: #LegalIndustry

⚙️Is your law firm actively highlighting efficiency gains from technology to clients?. While more firms recognize the need to highlight efficiency gains, around half still don't have the supporting data. Discover more: #LegalInsights

85% of law firms have received greater pressure to resource matters with diversity in mind, but over half have no or only partial data on this. Gain further insight ➡ #LegalTech #LawFirms

💡 Under half of law firms are reviewing resourcing of matters with a profit focus as a priority in the next 12 months. Find out how firms are improving resource management processes to gain insight and remain profitable 👉 #LegalTech #LegalResearch

BigHand provides tech solutions for busy legal professionals with insights to increase value and profits. We help you identify improvements across:. Lawyer & support staff resourcing.Document production.Financial performance & matter pricing. Learn more:

"Prevention is key to avoid these incidents. Managing metadata effectively and securely requires a combination of tools, policies and education.".​. #metadata #metadatamanagement #LegalTech #Blog

📢 We are thrilled to be releasing our new market insights, focused on retaining clients, profit, & lawyers with proactive talent management!. Access all the insights here ➡ #LegalTech #LegalInsights #LegalResearch